Norway Savings Bank Sells 1,770 Shares of The Walt Disney Company (NYSE:DIS)

Norway Savings Bank reduced its holdings in The Walt Disney Company (NYSE:DIS) by 13.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,924 shares of the entertainment giant’s stock after selling 1,770 shares during the period. Norway Savings Bank’s holdings in Walt Disney were worth $1,216,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. acquired a new position in Walt Disney during the 2nd quarter valued at $32,000. Birch Capital Management LLC bought a new stake in shares of Walt Disney in the fourth quarter valued at about $56,000. First PREMIER Bank grew its position in Walt Disney by 98.1% during the third quarter. First PREMIER Bank now owns 517 shares of the entertainment giant’s stock worth $50,000 after buying an additional 256 shares in the last quarter. FSA Wealth Management LLC bought a new position in Walt Disney during the third quarter valued at about $51,000. Finally, Livelsberger Financial Advisory acquired a new position in Walt Disney in the 3rd quarter valued at approximately $57,000. 65.71% of the stock is owned by institutional investors.

Insider Buying and Selling at Walt Disney

In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $114.57, for a total value of $42,667,242.84. Following the sale, the chief executive officer now directly owns 226,767 shares in the company, valued at approximately $25,980,695.19. This trade represents a 62.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brent Woodford sold 8,000 shares of Walt Disney stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $114.74, for a total transaction of $917,920.00. Following the transaction, the executive vice president now directly owns 44,055 shares in the company, valued at approximately $5,054,870.70. This represents a 15.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 385,412 shares of company stock valued at $44,153,263. 0.10% of the stock is currently owned by insiders.

Walt Disney Trading Up 0.6 %

NYSE:DIS traded up $0.70 during trading hours on Tuesday, hitting $111.75. 5,202,365 shares of the stock were exchanged, compared to its average volume of 5,590,385. The company has a market capitalization of $202.37 billion, a P/E ratio of 41.24, a price-to-earnings-growth ratio of 2.05 and a beta of 1.43. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $109.99 and its two-hundred day moving average is $99.21. The Walt Disney Company has a twelve month low of $83.91 and a twelve month high of $123.74.

Walt Disney (NYSE:DIS) last posted its quarterly earnings results on Thursday, November 14th. The entertainment giant reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.05. The business had revenue of $22.57 billion for the quarter, compared to analysts’ expectations of $22.49 billion. Walt Disney had a return on equity of 9.21% and a net margin of 5.44%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.82 earnings per share. On average, sell-side analysts anticipate that The Walt Disney Company will post 5.41 earnings per share for the current fiscal year.

Walt Disney Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, January 16th. Investors of record on Monday, December 16th will be issued a $0.50 dividend. This is a positive change from Walt Disney’s previous semi-annual dividend of $0.45. This represents a yield of 0.6%. The ex-dividend date is Monday, December 16th. Walt Disney’s dividend payout ratio is currently 36.90%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DIS. Sanford C. Bernstein lifted their price objective on Walt Disney from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Redburn Atlantic upgraded shares of Walt Disney from a “neutral” rating to a “buy” rating and increased their price objective for the company from $100.00 to $147.00 in a research note on Tuesday. Raymond James reaffirmed a “market perform” rating on shares of Walt Disney in a report on Tuesday, October 1st. Piper Sandler assumed coverage on shares of Walt Disney in a research note on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 target price on the stock. Finally, Seaport Res Ptn upgraded shares of Walt Disney from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.54.

Walt Disney Company Profile

The Walt Disney Company operates as an entertainment company worldwide. It operates through three segments: Entertainment, Sports, and Experiences. The company produces and distributes film and television video streaming content under the ABC Television Network, Disney, Freeform, FX, Fox, National Geographic, and Star brand television channels, as well as ABC television stations and A+E television networks; and produces original content under the ABC Signature, Disney Branded Television, FX Productions, Lucasfilm, Marvel, National Geographic Studios, Pixar, Searchlight Pictures, Twentieth Century Studios, 20th Television, and Walt Disney Pictures banners.